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Trading the XJO with CFDs

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Re: Trading the XJO with CFD's

update...........

Today further weakness creped in even though we had a last minute rally which did give the bulls some more ammo.

Still staying in this range but as you can see we are retesting the support any fall in the dow tonight should give it enough reason the break that minor support line.

Overall for this trend I am still bullish untill it breaks though it 45 degree P&T harmony line, that is the main trend line on the chart.

if it bounces of it again for a 9 point It's another long.

as i said in last post this last rally of the line looked rather flat and ran out of steam very quickly.

 

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Re: Trading the XJO with CFD's


Well i'm short, and staying short until i get stopped out at 6336...should be safe to sleep tonite.

Cheers,
 
Re: Trading the XJO with CFD's

Can you would have had a roller coaster night did the SP spike like the dow?

I would have been heart in mouth if i was short the dow over 100 points up at one stage! yikes!
 
Re: Trading the XJO with CFD's

Trade_It said:
Can you would have had a roller coaster night did the SP spike like the dow?

I would have been heart in mouth if i was short the dow over 100 points up at one stage! yikes!
Click to expand...

I had a short on the ASX200, but i had my stop too tight, at the pivot point, and i almost changed it to S1 beforei logged off, i should have as it didn't quite make it before it reversed.

Think i'll just watch for a while and wait for a better entry...this sideways stuff is a bit too 'unresolved' for my liking.

Cheers,
 
Re: Trading the XJO with CFD's

looking like another long will be opened!

braking resistance now.
 
Re: Trading the XJO with CFD's

Trade_It said:
looking like another long will be opened!

braking resistance now.
Click to expand...

Indeed, theres no stopping these bulls!
 
Re: Trading the XJO with CFD's

CanOz said:
Indeed, theres no stopping these bulls!
Click to expand...

tell you the truth Can I think i will sit this one out it does not 100% meet what I look for in a new entry and I just have a bad feeling about this but maybe i am being dumb
 
Re: Trading the XJO with CFD's

XJO,

more selling took hold today. with a stronger lead from wall st.

i am thinking fear and uncertain minds are worrying.

chart is showing a break of the last short term bull run with major resistence at 6400 minor resistence at 6300.

buyers have found a minor support level at the 23% fibb retracement.

two higher closes with minor resistence have formed a very small bullish continuation. i do not put to much into it.

3 touch resistance confirms short term downward direction. which lines up with support at just above 6200 making a desending triangle, if confirmed next level of support is found just above 6100 which is the 38% retracement of current uptrend starting March.

I am more inclined to see the descending triangle be confirmed.

I am not in this market at all looking for the descending trend line to be broken, before any longs taken.

See chart
 

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Re: Trading the XJO with CFD's

Hi Trade it.....

Made a tidy sum today in short from the open on the XJO - fell far further than even I initially suspected..... Nervous hands are at play and I closed my only open long today on the ASX at a loss today....

Personally, I am looking for a fall to 6100, seems logical..... From there, I will re-assess......

Cheers
Reece
 
Re: Trading the XJO with CFD's


Well done Reece55,
Yes, the weakness evident was surprising and the flat finish in the XJO didn't seem to tell the full story of the market today I think - some pretty solid selling was going on here.
Feel free to join the CFD chatters group on Yahoo Chat; just add the following contact to your list and then join the CFD day traders conference if you like to chat about CFD's between 10-4.

unclefestivus
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Uncle Festivus
 
Re: Trading the XJO with CFD's

where is the May bogey man? we only have 2 days left! someone better let him know!

well,

Bulls came back out in force today XJO buying was right up with a finish more then the all ords in points.

other market observations, XJO put option buyers out numbered the calls 3:1, some may say more red to come other may think sell off now over. CSL & MBL in the same boat.

what r your opinions on that? (WayneL?)

XJO chart.

minor resistence broken as of today, added a Gann line new trend I will look to follow. as for now 23% fibb has stuck as support. once price has broken downward reistence line i will look to go long with stops under the Gann line.

Gann line will become new support and trend line I will follow till broken.

I am still bearish on the short term until price can break and hold over resistance line.

see chart.
 

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Re: Trading the XJO with CFD's

I am bringing this thread back to life, as I have seen there are a few members interested in swing, day and overnight trading the IGxjo.

anyone that is trading, paper trading or just thinking of trading this MM index post your charts and thoughts about it.

my thoughts on today,

well after the cash injection into the dow Friday night there could be a reason to see a rally, I am looking to go long wont make my mind up until 3-30 this afternoon.

here is the current IGXJO chart. I must say it's rather messy comparing to the actual XJO chart.

you can see the depth it dropped to on Friday night as the dow futures went to -200. could see a nervous open this morning to a strong finish.

currently its got 24 point lead on the xjo so it may drop on the first 10 min to correct.

good trading
 

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Re: Trading the XJO with CFD's

Hi TI, i had actually calculated the weekly pivots and was going to post them this morning for anyone interested. Unfortunatly i left them at home. I'll post them tonite on this thread...they'll be from the SPI though.

Cheers,
 
Re: Trading the XJO with CFD's


CanOz said:
Hi TI, i had actually calculated the weekly pivots and was going to post them this morning for anyone interested. Unfortunatly i left them at home. I'll post them tonite on this thread...they'll be from the SPI though.

Cheers,
Click to expand...

guys You do know that this is linked to the SPI tick for tick not the cash XJO.
 
Re: Trading the XJO with CFD's

trembling Hand said:
guys You do know that this is linked to the SPI tick for tick not the cash XJO.
Click to expand...

IG told me different TH.

XJO during the day with their fair value added to it based on the SPI at night.

Aussie forwards is the spi.

from there words.


Can

by all means post the points.

Looking like a long play so far
 
Re: Trading the XJO with CFD's

Trade_It said:
IG told me different TH.

XJO during the day with their fair value added to it based on the SPI at night.

Aussie forwards is the spi.

from there words.
Click to expand...

CMC says the same but watching the spi all day I know that CMC pegs their Aussie200 to the Bid or Ask of the SPI but set at an arbitrary level. If you can get live SPI data from SFE you can see the way these ASX200 CFDs follow the SPI tick for tick which will be fine as the ASX 200 follows the SPI mostly give or take a point or two.

They have the same times as the SPI rather than the ASX. It would also seem a lot easier for them. If they tracked the ASX200 and something Big went into a trading halt There is potential to profit on the ASX inefficient price where that will not/should not happen on the SPI.
 
Re: Trading the XJO with CFD's


I hear what your saying TH, I am not to sure about CMC I made one trade with them last year and then closed my account right after. It was a long on PPT and their prices looked 30-40 cents different form Sanford securities, I was very angry about it. I called CMC and they just did the old run around trick. I have heard bad things about them from many different sources. I personally think the famous market maker is rubbish, and I don't trust there market depth quotes after the problem I had. I am also very suspicious on the motives of there 3% margin rate. smaller the margin the quicker you out on a massive gap!

IG,

I have IG open during the day and I have Sanford securities open as well. Sanford is a share & options broker, not a CFD platform. On open the IG xjo price and xjo are normally off a touch, but they reconnect very quickly. they were point for point yesterday but at night it separates.

But during the day the SPI is the XJO am I right? not the same value though.

Good trading
 
Re: Trading the XJO with CFD's

I made a trade on the IGxjo yesterday,

Bought 1 mini at 5991, closed 6113.5

Main reasons:

XJO on daily made a higher low, Dow failed to break support on friday night, I could see a swing coming

this was a swing trade short term looking to make 100-200 point max.

Last night for what ever reasons the IG xjo rallied like wild with the us futures at 10.40 roughly I saw I was up by 122 points and I decided to take profits. was in my target area of 100-200 points

I have closed the trade, here is the lucky part, DOW gave all of its lead back and just finished under by three points, so last night I had luck on my side. even though today we will rally its still a profitable trade, my main point is if you get a gift sometimes it's best to take it there are many more oppertunities out there. I can not say for certain this is a new trend out of the sell off. So I took my gift.

Now I am looking to renter on a new higher low as long as the next weakness does not retrace and close more then 61.8 % of were this rally gets too. or break support.

As Wavepicker has stated, if this new rally fails to get past the previous one it's a bad sign indeed.

any one looking to start on the xjo higher lows do pay off, but not always! My advantage of using MM or SPI I can profit from the rallies driven by us futures out of hours and also exit, if I choose to take profits.

I have a attached two charts PDF of xjo with the higher low that was the reason to enter and a 30min chart of the IGXJO showing my ent and exit with the life of the trade.

Hope that can help, to any one looking to start trading the IGXJO,

Good trading.
 

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Re: Trading the XJO with CFD's

great post Trade_It. Keep them coming.
 
Re: Trading the XJO with CFD's


Now would be a good time to see what they match it to. Is it still trading while the SFE is down?
 
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